What do I need to do if I am required to make a payment with my tax return?
What do I need to do if I am required to make a payment with my tax return?
For calendar year 2021, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0 (2020 and 2019 also), per the Tax Cuts and Jobs act; for 2018 the amount was $695
2018 and prior years. If you have to make an individual shared responsibility payment, the amount due is reported on line 61 of Schedule 4 for Form 1040 in the Other Taxes section. You only make a payment for the months you did not have coverage or qualify for a coverage exemption. The amount due (if any) is calculated in your total payment or refund amount on your tax return.
Leave a comment?
0 Comments
Login
REGISTER WITH EMAIL